If you run a business or otherwise think you might be at risk of being litigated at some point, this article is for you. Nobody likes the thought of litigation, but sometimes it’s something you need to think about before it’s too late. The more carefully you plan against litigation, the better of a position you’ll be in to prevent it in the first place. This gives you a better shot at a good result.
Get litigation insurance
First and foremost, make sure you’re insured against litigation, especially if you’re in an industry where it’s common. The right insurance should give you peace of mind to carry on making the right decisions in business. It might be expensive, but it’s normally worth it. When looking for an insurer, make sure you’ve got an acceptable excess and insurers that are used to working with your sort of business.
Make sure your contracts are tight
Lots of litigation gets filed as a result of disagreements about services that have or haven’t been delivered, or arguments with clients and employees. While word-of-mouth agreements about work might have been ok a long time ago, they aren’t anymore. To prevent disagreements and potential litigation, make sure everything is documented fully and everyone knows what they should or shouldn’t expect from the work you do for them.
Make sure you keep full records of everything
Similarly to getting tight contracts, you must make sure you keep full records of all conversations and everything detailing day-to-day processes on the work you do. This can work as great evidence in your favor, and keeping such documentation could even prevent litigation in the first place.
Find expert witnesses in your field
Don’t just rely on valuable witnesses in your business, make sure you consult external experts on your industry on relevant aspects of the case should your litigation go through. These people are great for juries and should be able to compelling argument why what you did was acceptable in your industry, or why there’s no case to answer. An expert witness could be exactly what your litigation defense needs.
Offer a viable solution to all parties
If you’re threatened with litigation, make sure you’ve done everything you can to solve the problem. Not everyone wants to go to court, and many people could do without the expense. If you have a problem in your business, you should try and sort it amicably before it even gets near to a litigating stage.
Try and settle out of court if you have to
If you have to offer a small fee to get people to stop the litigating process—do it. It could cost you much more in the long-run, even if you win the case. Lawyers can be expensive.
Make sure you’ve got a good lawyer as early as possible
Don’t just go and get a lawyer when litigation looks likely. Get one in early and make sure it’s a good one. That way they can help prevent litigation in the first place or might even be able to help with other parts of your business.
Read Remaining part of the article at Ground Report